FX.co ★ Argentina Economic Activity Contracts in November

In November 2025, Argentina witnessed a 0.3% decrease in economic activity compared to the previous year, following a 3.2% rise in October. This represented the first decline since September 2024. The deceleration was primarily due to weaker performances in several sectors: manufacturing saw a downturn of 8.2% as opposed to a 2.7% decline earlier, construction decreased by 2.3% following a 5.3% increase, trade fell by 6.4% compared to a previous growth of 0.6%, real estate and business services slowed to 0.4% from 3.8%, and education grew by 0.7% down from 0.9%. Meanwhile, agriculture improved significantly, growing by 10.5% from 3.1%. Hotels and restaurants moved into marginal positive growth at 0.3%, compared to a previous decline of 0.4%. Transport and communications recorded a restrained growth at 1.8% down from 2.5%, and financial intermediation continued to contribute positively, though at a reduced rate of 13.9% from 23.1%. Utilities recorded a smaller increase at 1.6% from 2.1%, and the public sector experienced a minor ongoing contraction at -0.6% compared to -0.8% previously. Mining remained in expansion, albeit at a slower pace of 7.0% compared to 8.1%. On a monthly, seasonally adjusted basis, activity declined by 0.3%, while the trend-cycle remained stable at 0.0%.